3 Dec 2009Stadium ownership 'not a priority' for Coventry City

Football Finance News | Football Technology and Stadia

Coventry City chairman Ray Ranson has said that the club will only exercise its option to buy half of the Ricoh Arena when it makes financial sense to do so.

Two years ago, Ranson's company Sisu Capital saved the Championship club from administration in dramatic circumstances when its takeover was completed with less than an hour to spare.

Speaking to the Coventry Telegraph, the former footballer said that Coventry City will not consider moving towards stadium ownership until it becomes "commercially viable".

He told the publication: "It isn't our priority - the success of the team is.

"If we are moving towards regular gates of 22,000, there is a bigger incentive for us to buy the 50 per cent stake."

The Sky Blues attracted a gate of 18,400 for their last home game against Crystal Palace on November 21st. The capacity of the Ricoh Arena stands at just over 32,000.

Ranson began his playing career with Manchester City and also had spells at Birmingham City, Newcastle United and Reading.

Written by Terry Mitchell

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